Brics Likely to Offer Stake in Bank to Non-Members

By

Prasanta Sahu

March 7, 2013 5:31 a.m. ET

NEW DELHI--The Brics group of emerging nations are likely to offer to countries such as the U.S. and the U.K. a stake of up to 45% in a development bank they are planning to set up, said two Indian government officials with knowledge of the matter.

Getting developed countries to be shareholders will help the proposed bank get a high credit rating and reduce its fundraising costs, the officials told The Wall Street Journal in recent...